Citron’s Left is Short Canopy, Canadian Cannabis

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Although many investors have felt optimistic about the future prospects of the Canadian cannabis space since the country moved to legalize recreational marijuana use last month, rising stock prices are far from a sure thing. Earlier this week, a prominent short seller revealed that he is making bets again the industry. On Wednesday, Andrew Left, author and editor of investment publication Citron Research, thinks Canadian Cannabis companies are destined to fall in the near future, he said on CNBC’s Halftime Report. Left Is Short Canopy, Cronos and Others

According to CNBC , Left explained to Halftime Report host Scott Wapner that he is short such big names in the Canadian cannabis space such as Canopy Growth Corp. ( CGC ), Cronos Group ( CRON ) and Tilray Inc ( TLRY ). Left had previously disclosed his bet against Tilray.

The analyst and short seller predicted declining prices on stocks across the industry, not just for any particular company. He explained: "I’m also short Cronos, I’m short Canopy, I’m short Tilray. So I’m short a basket of names," adding that "once the U.S. licensed producers come on—the faster it becomes legal in the U.S., the quicker the Canada names go lower."

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